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8 October 2007 - Secretary of Energy Samuel W. Bodman said that the Department of Energy (DOE) has issued the final regulations for the loan guarantee program authorized by Title XVII of the Energy Policy Act of 2005. DOE also invited 16 project sponsors to submit full applications for loan guarantees. These projects include advanced technologies involving the uses of biomass, fossil energy, solar, industrial energy efficiency, electricity delivery and energy reliability, hydrogen, and alternative fuel vehicles.

The final regulations provide for 100 percent guarantee of project debt, up to 80 percent of total project cost of an eligible project. If DOE issues a guarantee for 100%, the loan will be handled by the Treasury Department. In order to avoid dipping into taxpayer funds, DOE's intent is to issue loan guarantees only if borrowers and project sponsors pay the "credit subsidy cost" for any loan guarantee they receive. Consumers will be protected because industry will bear the cost to the government of providing the guarantee.

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